Categories: B2B Payments

Fiserv, SAP Team For Simpler B2B Payments

FinTech firm Fiserv is partnering with software company SAP to help worldwide B2B companies streamline payments and improve working capital, Fiserv announced on Monday (Feb. 10).

The partnership aims to offer B2B firms a streamlined platform to bring digital payments to their customers with the integration of two cloud-based solutions: Fiserv’s enterprise payments app SnapPay and the SAP digital payments add-on.

Many Fiserv clients have already started to see the benefits of the SnapPay-SAP integration.

Global home decor producer and distributor Brewster Home Fashions uses SnapPay and has migrated to SAP S/4HANA and SAP ERP with the SAP digital payments add-on.

“The real-time integration of SnapPay with the SAP solution is enhancing our process efficiency, reducing our overall cost of doing business and simplifying payment card industry compliance,” said Daoud Ali, IT executive director of Brewster. “The solution is flexible, efficient and has given our customer service team a new sense of empowerment.”

The SAP add-on assists with digital payment types that have to comply with the Payment Card Industry Data Security Standard (PCI DSS).

“The SnapPay integration with [the] SAP digital payments add-on helps meet the unique needs of B2B and B2C customers,” said Dr. Oliver Kroneisen, vice president and head of financial operations development at SAP. “Brewster Home Fashions exemplifies how our continued commitment benefits customers.”

SnapPay handles the accounts receivable (AR) and accounts payable (AP) processes of large and mid-sized companies. The solution also computerizes corporate treasury operations.

“Improving working capital is a top priority for most businesses,” said Suhas Gosavi, senior vice president of B2B payments and eCommerce at Fiserv. “To meet that need, we innovated on our existing SnapPay integration with SAP solutions to make it even easier for clients to access payment services, reduce days sales outstanding and automate back-office processes.”

Fiserv posted Q4 adjusted earnings of $1.13 per share, which just missed the consensus of $1.14. The adjusted revenue was $3.7 billion, slightly under the $3.8 billion expected.

Fiserv acquired First Data in January 2019 and cloud-based point-of-sale firm Clover in July. Clover’s Q4 saw an increase in annualized gross payment volume by more than 40 percent year over year.

Get our hottest stories delivered to your inbox.

Sign up for the Newsletter to get updates on top stories and viral hits.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

Recent Posts

Google’s Search Engine Option Menu In Europe Gets DOJ Attention

Google’s move to provide a menu in Europe, which began showing up on new tablets as well as smartphones and…

25 mins ago

Brooks Brothers Readies For Bankruptcy

Brooks Brothers is in talks with banks about securing cash for a potential bankruptcy that could come within weeks, as…

33 mins ago

Today In Payments: Amazon’s PayFort To Boost Middle East Startups; Next Economic Stimulus Package Could Hit $1T

In today’s top news, Amazon is looking at buying a stake in India’s Bharti Airtel, and the Trump administration expects…

56 mins ago

China’s To Sell $4.3B In Hong Kong-Listed Shares

Hong Kong technology company Inc. plans to sell up to $4.3 billion in shares in what is expected to…

2 hours ago

President Trump Signs PPP Loan Flexibility Legislation

As some firms grapple with meeting pivotal standards for loan forgiveness amid the pandemic, President Donald Trump signed a bill…

2 hours ago

France’s Fund Aims To Rescue Tech Startups From Takeovers

Looking for a way to protect technology companies from becoming prey to foreign buyers, France has created a fund to bail…

3 hours ago